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Author Question: What are the ethical implications for the legal team that is aware of hazardous materials on a site ... (Read 181 times)

charchew

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on: Aug 2, 2018
What are the ethical implications for the legal team that is aware of hazardous materials on a site that a client proposes to develop?
 
  What will be an ideal response?

Question 2

What is the difference between construction and permanent financing?
 
  What will be an ideal response?


fffftttt

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Reply #1 on: Aug 2, 2018
Answer to Question 1

The answers will vary but should include a discussion about the tension between the duty of confidentiality and the requirement to disclose the existence of hazardous materials. The most thorough response will recite the circumstances under which the lawyer is not bound by the duty but instead is obliged to share otherwise confidential information.

Answer to Question 2

Construction financing represents the funds provided to cover the out of pocket costs of construction and are usually released by the lender based on the percentage of the completion of the project. Permanent financing comes from lenders who do not want the risk inherent in financing a construction project that may never be completed. Permanent lenders will only finance the completed project, but will agree to pay off the construction lender upon completion.


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